Stuhini raises $574,000 in oversubscribed private placement

Stuhini Exploration Ltd. (TSXV: STU) (OTCQB: STXPF) completed a non-brokered private placement, raising gross proceeds of approximately $574,000 through the issuance of 4,782,999 units at $0.12 per unit.

The second and final tranche of the private placement raised $314,000 through the issuance of 2,616,667 units. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to acquire one additional common share at $0.18 per share for two years following issuance.

The securities issued are subject to a regulatory resale hold period ending January 8, 2025. Finder's fees totaling $16,140 were paid to Haywood, National Bank Financial, and EDE Assets in connection with the closing.

The company stated it intends to use net proceeds to support exploration and advancement of its Ruby Creek Project, including technical evaluation and groundwork for future drill targeting and development, as well as for corporate initiatives and general working capital.

Stuhini is a mineral exploration company focused on precious and base metals properties in western Canada. The company's portfolio includes the Ruby Creek Property in British Columbia, the South Thompson Nickel Project in Manitoba, and the Big Ledge Property in British Columbia.

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